Citigroup (C) Announces 2020 Interim Stress Capital Buffer Requirement
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Citi Announces 2020 Interim Stress Capital Buffer Requirement
June 29, 2020 4:30 PM EDTNEW YORK--(BUSINESS WIRE)-- The Federal Reserve Board communicated that Citis interim Stress Capital Buffer (SCB) requirement would be 2.5% for the four quarter window of 4Q 2020 3Q 2021. Incorporating this SCB, and a GSIB surcharge of 3%, results in a minimum regulatory requirement of 10% for both Standardized (using SCB) and Advanced (using the Capital Conservation Buffer CCB) Approaches relative to Citis Common Equity Tier 1 ratio of 11.2% using Advanced Approaches as of the first quarter of 2020.
Michael Corbat, Citi CEO, said, These results are consistent with our expectations, and indicate that we have the capacity to withstand extreme stress. The strength... More
